The EUR/USD tapped into an intraday high of 1.0580 on Thursday before settling to close out the US trading session down near 0.10550. The US Dollar (U
catching a broad-market lift as risk appetite sours on weakening economic data, spiking Treasury yields, and recession concerns.
Investors are gearing up for a full data docket on Friday, with European Consumer Price Index figures kicking things off.forecastMarket forecasters are expecting a half-percent cut in the rate of price growth for Europe as the continental economy wobbles, with a dovishFriday will also see US Personal Price Index numbers. US PCE inflation is forecast to hold steady for the month of August at 0.2%, while the annualized figure for the same period is seen ticking lower from 4.2% to 3.9%.
Analysts broadly expect both EU and US inflation readings to step lower, but the weak-side bet goes to Europe as price growth is expected to slump noticeably in the coming months.
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